Fuel Tech (NASDAQ:FTEK) Announces Earnings Results

Fuel Tech (NASDAQ:FTEK) released its earnings results on Tuesday. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter, Zacks reports. Fuel Tech had a negative return on equity of 5.70% and a negative net margin of 8.71%.

Fuel Tech Trading Down 2.5%

NASDAQ FTEK traded down $0.04 during trading on Tuesday, reaching $1.59. 217,370 shares of the company’s stock were exchanged, compared to its average volume of 187,030. Fuel Tech has a fifty-two week low of $0.93 and a fifty-two week high of $3.65. The firm has a market capitalization of $49.54 million, a PE ratio of -22.71 and a beta of 1.38. The company’s fifty day simple moving average is $1.32 and its 200-day simple moving average is $1.64.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Fuel Tech from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings cut Fuel Tech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Fuel Tech currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Fuel Tech

A number of institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in Fuel Tech by 27.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,147,995 shares of the industrial products company’s stock worth $1,791,000 after acquiring an additional 249,089 shares during the period. Vanguard Group Inc. boosted its position in Fuel Tech by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,013,864 shares of the industrial products company’s stock worth $3,042,000 after acquiring an additional 72,895 shares during the period. Geode Capital Management LLC boosted its position in Fuel Tech by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 517,658 shares of the industrial products company’s stock worth $1,305,000 after acquiring an additional 17,766 shares during the period. XTX Topco Ltd boosted its position in Fuel Tech by 218.3% during the 4th quarter. XTX Topco Ltd now owns 178,303 shares of the industrial products company’s stock worth $278,000 after acquiring an additional 122,291 shares during the period. Finally, Beartown Capital Management LLC acquired a new stake in Fuel Tech during the 4th quarter worth about $250,000. 20.94% of the stock is currently owned by institutional investors and hedge funds.

Fuel Tech Company Profile

Fuel Tech, Inc (NASDAQ: FTEK) is a specialty technology and engineering company focused on developing and supplying clean air solutions for the power generation and industrial markets. The company designs, manufactures and markets proprietary chemical reagents and process control systems that help customers reduce emissions of nitrogen oxides (NOx), mercury and other air pollutants. Its technology platform combines advanced process modeling, plant optimization software and field testing services to help utilities and industrial facilities comply with environmental regulations and improve operational efficiency.

Fuel Tech’s core product lines include selective catalytic reduction (SCR) optimization systems, activated carbon injection solutions for mercury capture, and sorbent enhancement additives for flue gas desulfurization processes.